NYC Restaurant Serves $350 Steak

A New York City restaurant is serving up a steak that will fill your stomach and empty your wallet. At Old Homestead Steakhouse, diners can now order a 12-ounce portion of Kobe beef for $350.

Authentic Kobe beef was not sold anywhere in the United States until recently, when the USDA lifted the ban on the import. (The beef was originally banned because of an outbreak of foot and mouth disease in Japan.)

"Old Homestead Steakhouse, the iconic fixture in NYC's Meatpacking District, is the only restaurant in the U.S. that's getting a very limited supply," a representative for the restaurant said.

Kobe beef is a cut of meat from a special breed of Wagyu cattle that are fed rice, maize and barley and given clean water. The meat must pass strict guidelines for weight, lineage and marbling. The beef is known for its fat marbling, 30 to 40 percent more than USDA prime, which produces a "melt in your mouth" texture.

There are rumors that some farms massage the cattle or feed them beer but these are not common practices and do not improve the quality of the meat, according to the Kobe Beef Marketing and Distribution Promotion Association.

"Just imagine Fourth of July on your taste buds, with bursts of flavor on your palate, and when you think it's over, you're overwhelmed by a second and third round of luscious eruptions," Old Homestead co-owner Marc Sherry said in a statement, adding, "It's a food experience of orgasmic proportions - really."

Diners who order the pricey dish will also be able to take home an inscribed plate as a token of their experience.